Defense Metals appoints Jamie Spratt as strategic advisor
Defense Metals appoints Jamie Spratt as strategic
advisor
VANCOUVER, BC
,
Dec. 2, 2020
/CNW/ - Defense Metals Corp. ("
Defense Metals
" or the "
Company
") (TSXV:
DEFN) (OTCQB: DFMTF) (FSE: 35D) is pleased to announce the appointment of Mr.
Jamie Spratt
as a Strategic
Advisor to the Company.
Mr. Spratt is Principal at Walmsley Capital Inc., a focused mining corporate finance and advisory business that he
founded in 2019. Over the past 14 years, Jamie has developed extensive mining capital markets and investment
sector experience. He has built a strong reputation as an analyst and advisor having built deep partnerships with
mining CEOs and institutional investors. Jamie was a Partner and Equity Research Analyst at Clarus Securities Inc., a
small and mid capitalization focused boutique investment bank for 10 years, where he was instrumental in building one
of the leading mining practices in
Canada
.
Based on his track record, Jamie became a highly rated mining analyst and attracted top institutional investors to
many of his investment ideas. Jamie started his career in investment banking at an independent investment bank
where he advised on M&A, merchant banking and corporate finance mandates primarily in the metals and mining
sector and achieved valuable transaction experience. He has an MBA from the Rotman School of Management, a B.A.
in Applied Economics from Queen's University and a CFA Charterholder. He is also a registered dealing
representative at Belco Private Capital Inc., an exempt market dealer.
Craig Taylor
, CEO comments:
"
Mr. Spratt brings a wealth of
corporate finance
,
capital markets
,
and M&A experience to bear on Defense Metals
efforts to advance the Wicheeda REE Deposit.
We look forward to Mr. Spratt's contributions in light of sustained
upward price pressures on critical magnet metals, principally neodymium and praseodymium. Over the past six
months we have seen an 80% increase in neodymium oxide spot prices from approximately
USD$40
/kg in early
June to most recently
USD$72
/kg as of
December 1, 2020
1
. Defense Metals believes these price increases
represent real future demand trends triggered as a result of the beginning of a fundamental shift towards the
green
energy-electric vehicle sector
"
Wicheeda REE Project
The Wicheeda REE project has indicated mineral resources of 4,890,000 tonnes averaging 3.02% LREO (Light Rare
Earth Elements) and inferred mineral resources of 12,100,000 tonnes averaging 2.90% LREO
2
.
Qualified Person
The scientific and technical information contained in this news release as it relates to the Wicheeda REE Property has
been reviewed and approved by Kristopher J. Raffle, P.Geo. (BC) Principal and Consultant of APEX Geoscience Ltd.
of
Edmonton, AB
, a director of Defense Metals and a "Qualified Person" as defined in National Instrument 43-101 –
Standards of Disclosure
for Mineral Projects
.
About Defense Metals Corp.
Defense Metals Corp. is a mineral exploration company focused on the acquisition of mineral deposits containing
metals and elements commonly used in the electric power market, military, national security and the production of
"GREEN" energy technologies, such as, high strength alloys and rare earth magnets. Defense Metals has an option to
acquire 100% of the 1,708 hectare Wicheeda Rare Earth Element Property located near
Prince George, British
Columbia
, Canada. Defense Metals Corp. trades in
Canada
under the symbol "DEFN" on the TSX Venture Exchange,
in
the United States
, under "DFMTF" on the OTCQB and in
Germany
on the Frankfurt Exchange under "35D".
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the
TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.
Cautionary Statement Regarding Forward Looking Information
This news release contains "forward–looking information or statements" within the meaning of applicable securities
laws, which may include, without limitation, statements relating to the Company's plans for its Wicheeda project, the
technical, financial and business prospects of the Company, its project and other matters. All statements in this news
release, other than statements of historical facts, that address events or developments that the Company expects to
occur, are forward-looking statements. Although the Company believes the expectations expressed in such forward-
looking statements are based on reasonable assumptions, such statements are not guarantees of future performance
and actual results may differ materially from those in the forward-looking statements. Such statements and information
are based on numerous assumptions regarding present and future business strategies and the environment in which
the Company will operate in the future, including the price of rare earth elements, the ability to achieve its goals, that
general business and economic conditions will not change in a material adverse manner, that financing will be available
if and when needed and on reasonable terms. Such forward-looking information reflects the Company's views with
respect to future events and is subject to risks, uncertainties and assumptions, including those filed under the
Company's profile on SEDAR at
www.sedar.com
. Factors that could cause actual results to differ materially from
those in forward looking statements include, but are not limited to, continued availability of capital and financing and
general economic, market or business conditions, adverse weather conditions, failure to maintain all necessary
government permits, approvals and authorizations, failure to maintain community acceptance (including First Nations),
decrease in the price of rare earth elements, the impact of Covid-19 or other viruses and diseases on the Company's
ability to operate increase in costs, litigation, and failure of counterparties to perform their contractual obligations. The
Company does not undertake to update forward–looking statements or forward–looking information, except as
required by law.
1
Source:
http://www.asianmetal.com
accessed December 1, 2020
2
Technical Report on the Wicheeda Property, British Columbia, effective June 27, 2020 and prepared by APEX Geoscience Ltd. (Steven J. Nicholls, B.A. Sc., MAIG and Kristopher J. Raffle, B.Sc., P.Geo) is
available under Defense Metals Corp.'s profile on SEDAR (
www.sedar.com
)
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For further information:
For further information, please visit https://defensemetals.com/ or contact: Todd Hanas,
Bluesky Corporate Communications Ltd., Vice President, Investor Relations, Tel: (778) 994 8072, Email:
CO: Defense Metals Corp.
CNW 08:00e 02-DEC-20